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Bankruptcy ins and outs????
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Bankruptcy ins and outs????
a friend wants to file bankruptcy, how much does it cost
any advice would be helpfull
any advice would be helpfull
elvis44102- Member
- Posts : 656
Join date : 2011-03-07
Re: Bankruptcy ins and outs????
Elvis,
Have your friend consult a bankrupcy lawyer. First consulatation is free, if the lawyer is legitimate. Bankrupcy is not the clear solution it used to be. The crummy government is clamping down, since so many people are filing for bankrupcy in this crummy economy. For instance, student loans are usually NOT forgiven (at one time they were). Lawyer's fees range between $1,000 to $2,500 depending on location.
Have your friend consult a bankrupcy lawyer. First consulatation is free, if the lawyer is legitimate. Bankrupcy is not the clear solution it used to be. The crummy government is clamping down, since so many people are filing for bankrupcy in this crummy economy. For instance, student loans are usually NOT forgiven (at one time they were). Lawyer's fees range between $1,000 to $2,500 depending on location.
jmainframe- Member
- Posts : 471
Join date : 2011-02-24
Age : 65
Location : New Jersey
Re: Bankruptcy ins and outs????
yes, i knew about the student debt not being covered,
and looked up fees in bankruptcy court
and looked up fees in bankruptcy court
elvis44102- Member
- Posts : 656
Join date : 2011-03-07
Re: Bankruptcy ins and outs????
Be careful how you file. Big difference between Chapter 7 and 11.
DesperateInRI- Administrator
- Posts : 429
Join date : 2012-09-14
Age : 67
Location : CT
Re: Bankruptcy ins and outs????
DesperateInRI wrote:Be careful how you file. Big difference between Chapter 7 and 11.
my friend really just wants to re-establish a credit rating, it looks like there is a huge difference in cost assoc with chap 7 vs chap 11
elvis44102- Member
- Posts : 656
Join date : 2011-03-07
Re: Bankruptcy ins and outs????
I've done ch 7 twice. It is was easier to re-establish credit after a bankruptcy. I wish student loans were able to be taken out via Bankruptcy.
503Depressed- Member
- Posts : 164
Join date : 2011-02-22
Age : 59
Location : Portland, Oregon
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